Havre Daily News - News you can use

After years of depressed prices, we ranchers and cattle feeders are desperate for Congress to do something — do anything! It was in this context that the 50/14 concept was conceived. When the “negotiated spot market” for fat cattle got down to less than 20% of the total, it became a problem that obviously needed correction. Particularly since the prices derived in this very thin market are used by the packer cartel to buy the remaining 80% of cattle — the “captive supply.” Clearly, the cattle industry has a corrupt price discovery mechanism.

The idea is that if beef packers are...